Zion Oil & Gas Inc (ZNOG)

[DragonBear]

what is the expected number of wells that should be drilled, by a wildcat oil & gas exploration-scam

As long as they can dump their stock in the market, as many as they "should" wish.

company, in Israel, before they find a commercial discovery? One? Two? Three? Ten??

That's like asking how many wells you can drill in your backyard before finding oil. Your assumption is that oil is present. So, what major oil companies (or any) submitted a bid for the lease which ZN ended up with? None. What 3D seismics did ZN perform at the MJ site before drilling? None.

Read the 3D discussion

Or if you don't like that article find one that discusses 2D vs 3D. ZN drilled by blind faith, as one would do in their own backyard. The result was yet another dry hole. Now they are looking at drilling logs, trying to figure out in which zone the oil in the mud came from. Latest scam angle is use the magic words "directional drilling". Again based on what 3d seismics to tell them direction, and in which zone?

There's also the question why did it take over 1 yr from spud to complete drilling for a conventional onshore well? Contrast to US shale oil drillers who do use 3D seismics. Who then drill vertically, and then horizontally, with the horizontal drill bit guided by active 3D seismics. Then comes the injection of propellants at multiple pre-determined fracture points, with 1000ft laterals. All of this taking 6-8 weeks to complete. And the result is they don't have to then spend weeks pumping PRs about finding a trace of oil in the mud. Instead they report IP30, and subsequent flow of oil, and NG in their filings. So why did it take ZN over a year to complete 1 dry well? Because Carrillo et al found that was good enough so as to be able to dump their stock into multiple PRs.